June 22, 2018

Here's a look at where Source One's cost reduction experts have been featured this week!

New Whitepaper Series:
Source One's new five-piece whitepaper series collects insights and ideas from Supply Management's most celebrated thought leaders. These experts use their collective decades of experience to discuss the ever-popular topic of Procurement Transformation and and provide their advice. Avoiding empty buzzwords and moving the conversation forward, they offer highly valuable observations, suggestions, and actionable best practices for organizations at any maturity level.
Sourcing Strategies Group's Jim Baehr discusses the continuing strategic evolution of Supply Management. He suggests that. over the last few decades, the definition of Procurement Transformation has matured alongside the function itself. Baehr charts these changes, reflects on the department's current state, and predicts what Supply Management's next era might bring. 
Shortcomings in pursuit of a Procurement Transformations are, unfortunately, common within many organizations.  According to Joe Payne and Phil Ideson, issues with the department's mission, motivations, and mindset might be the culprit. Procurement needs to reflect and adjust the way it views itself and its role before it can truly transform its operations.
Some aspects of Procurement's operations may seem to require priority over others. When pursuing a Transformation, organizations tend to target areas that need the most improvement. Presumptuously, focusing on these areas will produce greater strategic value moving forward and effectively change the department. However, even the most incremental initiative cannot succeed without taking the department's various components- most notably, its people, processes, and technologies, into account. While one aspect will usually become a priority, each must be aligned in order to ensure lasting results. 
Developing an optimal Procurement function requires consistent effort. Conducting a successful Procurement Transformation is just the first step toward reaching Procurement's full potential. The complete process requires unceasing momentum, constant attention, and an innovative spirit. Tom Rogers (Vendor Centric), Michael Lamoureux (Sourcing Innovation), and Diego De la Garza (Source One) talk about what comes next for the ‘transformed’ Procurement team.

Recent Podcasts:
Recruiting and Retaining Millennials in Procurement
Andrew Jones discusses a frequent topic in today's professional sphere - millennial talent. Jones notes that the stereotypes surrounding this generation are both cliched and demonstrably untrue. Though they're often depicted as lazy, entitled, and disloyal, notes that many young professional disprove these notions each day. Jones calls for a cross-generational knowledge transfer to ensure both Procurement veterans and new hires can evolve professionally. Listen to the conversation today. 

Naseem Malik of MRA Global Sourcing talks about his recent contribution to Procurement Transformations: Industry Perspectives. Labeling talent as Procurement's most valuable resource, he notes that holding the proper group of procurement professionals enables company-wide evolution and improves brand strength. He urges organizations to rethink their approach to both attracting and retaining new hires. Interested in reading more? Check out Part 3 of Procurement Transformation: Industry Perspectives. 

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